{"id":293271,"date":"2020-05-06T05:37:50","date_gmt":"2020-05-05T19:37:50","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/asx200-trading-lower-panic-buying-drives-record-surge-in-retail\/"},"modified":"2021-02-19T12:13:51","modified_gmt":"2021-02-19T01:13:51","slug":"asx200-trading-lower-panic-buying-drives-record-surge-in-retail","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/articles\/shares-and-indices\/asx200-trading-lower-panic-buying-drives-record-surge-in-retail\/","title":{"rendered":"ASX200 Trading Lower; Panic\u2013Buying Drives Record Surge in Retail"},"content":{"rendered":"

By Deepta Bolaky<\/strong>
\n\u00a0@DeeptaGOMarket<\/a><\/p>\n

The Australian share market struggled to edge higher despite overnight gains on Wall Street. The S&P\/ASX200 dropped on the open after a two-day advance as all three US equity benchmarks had pared gains in the final hours of trading dragged by dovish Fed comments.<\/p>\n

In the afternoon, the index was down 37 points or 0.70% to 5,370. All Ordinaries was trading lower by 28 points or 0.51% to 5,450.<\/strong><\/p>\n

The majority of the sectors were trading in negative territory but significant losses of more than 1% were seen in the real estate and financial sectors. Bank stocks were heavily weighing on the index with Westpac, ANZ and NAB all down by 2% or more, while CBA was trading around 1% lower.<\/p>\n

\"\"
\nSource: Bloomberg<\/strong><\/p>\n

As of writing, the energy sector was the best-performing sector, supported by a surge in crude oil prices. For the first time since April, Brent Crude oil futures rose above $30 as production cuts started kicking in.<\/p>\n

\"\"
\nSource: Bloomberg<\/strong><\/p>\n

On the economic front, the Aussie Retail Sales turnover came above expectations at 8.5% in March compared to the 8.2% forecasted. Australia saw both record rises<\/strong> in food retailing and record falls<\/strong> in cafes, restaurants and takeaway food services. Panic-buying has driven the increases in food retailing (24.1%), household goods retailing (9.1%) and other retailing (16.6%) which has helped to compensate for the significant drop in other categories.<\/p>\n

The Aussie dollar remains relatively muted at 64.30 US cents, despite the upbeat Retail Sales data.<\/strong><\/p>\n

By Deepta Bolaky<\/strong>
\n\u00a0@DeeptaGOMarkets<\/a><\/p>\n

Disclaimer: Articles and videos from GO Markets analysts are based on their independent analysis. Views expressed are of their own and of a \u2018general\u2019 nature. Advice (if any) are not based on the reader\u2019s personal objectives, financial situation or needs. \u00a0Readers should, therefore, consider how appropriate the advice (if any) is to their objectives, financial situation and needs, before acting on the advice.<\/em><\/p>\n

About GO Markets<\/strong><\/p>\n

GO Markets was established in Australia in 2006 as a provider of online CFD trading services. For over a decade, we have positioned ourselves as a firmly trusted and leading global regulated CFD provider. Traders can access more than 250 tradeable CFD instruments including Forex, Shares, Indices and Commodities.<\/p>\n

Follow us on Twitter<\/a><\/strong>, Facebook<\/a><\/strong> and LinkedIn<\/a><\/strong> to stay up to date with the latest market news and analysis.<\/a><\/p>\n

<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Deepta Bolaky \u00a0@DeeptaGOMarket The Australian share market struggled to edge higher despite overnight gains on Wall Street. The S&P\/ASX200 dropped on the open after a two-day advance as all three US equity benchmarks had pared gains in the final hours of trading dragged by dovish Fed comments. In the afternoon, the index was down […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2816],"tags":[],"yoast_head":"\nASX200 Trading Lower; Panic\u2013Buying Drives Record Surge in Retail - GO Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/articles\/shares-and-indices\/asx200-trading-lower-panic-buying-drives-record-surge-in-retail\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX200 Trading Lower; Panic\u2013Buying Drives Record Surge in Retail - GO Markets\" \/>\n<meta property=\"og:description\" content=\"By Deepta Bolaky \u00a0@DeeptaGOMarket The Australian share market struggled to edge higher despite overnight gains on Wall Street. 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